Another alternative IF IBM’s wave intraday wave count is impulsive, like I think it is (and I could be wrong).
IF its impulsive and making a 5-wave up-move, then the pullback we’re seeing can’t cross below the peak of wave 1’s move higher.
If it goes below that, we’re likely see it move much lower. But so far, I think we’ve still got a shot at hitting our target over day or very soon. We’ll see.